U.S. House lawmakers meet to discuss stablecoin bill

Lawmakers pushing for stablecoin legislation met with Senate Majority Leader Chuck Schumer. House Financial Services Committee Chairman Patrick McHenry and senior Democrat on the committee, Representative Maxine Waters, met with Schumer on Thursday to push for legislation and may tie it to the reauthorization of funding for the Federal Aviation Administration (FAA). In crypto activities, McHenry has repeatedly stated that his group's stablecoin bill still has a chance of passing and being signed into law by President Joe Biden, including in earlier remarks this week. McHenry, who is retiring from Congress this year, prioritizes legislation to provide protection for token issuers and to provide a more stable foundation for more volatile cryptocurrency transactions, among other purposes.